Which software is best?
Comparing AML/CTF compliance software is hard because marketing pages tend to converge on the same language regardless of what's actually built. The way through is to score vendors against a fixed set of concrete capabilities rather than reading claims at face value.
Last updated 13 July 2026
Sound familiar?
- Every vendor's marketing site uses near-identical language — 'compliant', 'audit-ready', 'built for Tranche 2'.
- You can't tell from a homepage whether a tool actually generates a usable program or just gives generic advice.
- You don't have a consistent framework to score competing options against.
Concrete criteria worth scoring, not marketing claims
- Does it generate an actual, exportable AML/CTF program document, or only checklists and advice?
- Does it cover ongoing CDD (monitoring, re-verification triggers) or only initial onboarding checks?
- Does it maintain the specific registers AUSTRAC expects (training, staff due diligence, SMR decision log), or only the risk assessment and program?
- Is content kept current against AUSTRAC guidance updates, and how is that demonstrated?
- What's actually included at each price tier, versus what requires an upsell or add-on?
A note on this comparison
This page sets out the comparison framework, not a scored comparison table. We haven't published a vendor-by-vendor scorecard here because we don't have independently verified data on competitors' current feature sets — publishing an unverified or self-serving comparison would be worse than publishing none. If you're evaluating vendors, apply the criteria above directly against each vendor's own documentation or a live demo.
Watch for scope creep in vendor claims
A tool that says it 'covers Tranche 2' may only cover the risk assessment and program, leaving CDD workflows and ongoing registers as a manual add-on — worth confirming directly rather than assuming from a features list.
Coming soon
Feature Comparison Matrix
This interactive tool isn't built yet (planned component: VendorComparisonMatrix). Check back soon, or read the guidance above in the meantime.
Where this leaves you
Confidence in what genuinely differs between vendors, using a consistent framework rather than marketing impressions.
Chosen a preferred vendor? Verify it actually covers every obligation →
Does this cover every obligation? →A lightweight AML platform, built exclusively for Tranche 2
Get AUSTRAC's mandates done as fast and effortless as possible.
- Built around AUSTRAC's actual requirements
- Single maintained compliance file
- No compliance expertise required
- 25 minute initial compliance setup
- Obligations calendar & reminders
- Instant data export
This is general information, not legal advice. Always verify current requirements on the AUSTRAC website or seek professional advice for your specific situation.